Anura Kumara Dissanayake, sworn in Monday as the country’s first leftist president, has said he wants to renegotiate the deal, which has brought unpopular austerity measures. “We look forward to working together with President Dissanayake… towards building on the hard-won gains that have helped put Sri Lanka on a path to economic recovery,” an IMF […]
IMF’s Director of Communication, Julie Kozek, confirmed an Executive Board meeting scheduled on September 25 in a press briefing, adding that negotiations for a new $7 billion loan program were finalized back in July. On the other hand, the Finance Minister of Pakistan – Muhammad Aurangzeb – announced that all matters with the IMF have […]
According to sources, FBR needs to collect Rs2,654 billion in taxes for the first quarter of the fiscal year 2024-25, with Rs 1,190 billion required in September 2024 alone. If FBR fails to meet the target by the end of the first quarter (July-September), the International Monetary Fund (IMF) may push Pakistan for a mini-budget […]
During the virtual talks with the IMF, Pakistan authorities shared the plan of an additional 100 billion rupees increase int eh circular debt in the power sector during the current fiscal year. Sources indicate that by June 2025, the circular debt in the power sector is expected to surpass Rs 2,550 billion. Currently, the circular […]
According to the Fund’s website, the IMF schedule of the executive board meeting is set to be held on September 9, 13 and 18 but to take Pakistan’s 37-month Extended Fund Facility Arrangement (EFF) of about $7 billion on the agenda is not included. Pakistan and the IMF reached an agreement on the 37-month loan […]
A total of 770,518,958 shares were traded during the day as compared to 969,768,756 shares the previous day, whereas the price of shares stood at Rs 14.287 billion against Rs 17.510 billion on the last trading day. As many as 444 companies transacted their shares in the stock market, 148 of them recorded gains and […]
This upgrade follows Fitch Ratings’ decision in July to raise the country’s credit rating from “CCC” to “CCC+”. Moody’s said that this upgrade reflects Pakistan’s improved macroeconomic conditions and moderately better government external positions from very weak levels. “We have also upgraded the rating for the senior unsecured MTN program to (P)Caa2 from (P)Caa3. Concurrently, […]
This upgrade follows Fitch Ratings’ decision in July to raise the country’s credit rating from “CCC” to “CCC+”. Moody’s said that this upgrade reflects Pakistan’s improved macroeconomic conditions and moderately better government external positions from very weak levels. “We have also upgraded the rating for the senior unsecured MTN program to (P)Caa2 from (P)Caa3. Concurrently, […]
The board’s agenda includes discussions on seven countries, including Vietnam, Uganda, and Denmark. A meeting regarding Pakistan is anticipated once the country fulfills the remaining preconditions. As per sources within the finance ministry, the government is optimistic about meeting the requirement of securing an additional $2 billion in external financing soon. Efforts have intensified to […]
Traders are to observe a strike on August 28 (tomorrow) against the Tajir Dost scheme launched by the Federal Board of Revenue. Fazlur Rehman in his statement said, he fully supports the strike of traders and alleged government is overtaxing people on the demand of the International Monetary Fund (IMF). Inflation and ‘unjustified’ taxes have […]
